Colombia Trade

Colombia

Colombia: Exports contract at steepest rate on record in September

November 5, 2015

In September, exports shrank 43.4% over the same month last year, coming in below August’s 41.6% drop and marking a new multi-year low. According to the National Statistical Office (DANE), a sizeable drop in exports of petroleum and oil derivatives as well as a drop in mining product exports were mainly behind September’s contraction.

Imports declined 9.2% in August (the most recent month for which data are available), which was above July’s 18.3% contraction. The trade balance recorded a USD 1.4 billion deficit in August, which was a significant deterioration from the USD 143 million surplus recorded in the same month of the previous year.

Panelists participating in the LatinFocus Consensus Forecast expect that exports will fall 15.5% in 2015 and expand 8.6% in 2016.


Author:, Economist

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Colombia Exports September 2015

Note: Year-on-year and annual average variation in %.
Source: Colombia National Statistical Office (DANE).


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